economics

The losses suffered by a sole proprietor are?

A. usually equal to the amount invested B. usually less than the amount invested C. limted to the amount invested…

4 years ago

A disadvantage of concentrating industries in an area is that it could?

A. lead to conclusion among the firms B. result in evironmental pollution C. bring about diseconomies of scale D. increase…

4 years ago

In the agricultural sector; improved extension services facilitate?

A. acquisition of techniques B. arable crop production C. mobility of labour D. livestock production Correct Answer: Option A -…

4 years ago

Which of the following is an example of a fixed cost?

A. Fuel cost B. Electricity bill C. Rent on building D. Transportation cost Correct Answer: Option C - Rent on…

4 years ago

A major advantage of specialization and division of labour is that?

A. time wastage will be minimized B. trade unions will be encouraged C. there will be a ready market for…

4 years ago

A production function relates?

A. cost to output B. wages to profit C. cost to input D. output to input Correct Answer: Option D…

4 years ago

An imperfect market exist where?

A. the product is homogenous B. there is perfect information among sellers C. both buyers and sellers have free entry…

4 years ago

If government fixes price below the equilibrium price; what effect will it have on demand?

A. Quantity demanded and supplied will be equal B. Quantity supplied will be greater than quantity demanded C. Quantity demanded…

4 years ago

An important feature of perfect competition is that?

A. the movement of goods and services is restricted B. there is adequate knowledge of existing prices C. prices are…

4 years ago

The long run is a period during which a firm?

A. sells inputs to purchase fixed assets B. varies all its inputs C. sources all its inputs from within D.…

4 years ago